Thursday, June 13, 2024

US $604 million earmarked for upgrade of Mexican railways

Three railroad companies will invest US $604.7 million this year in areas including infrastructure, technology and new trains.

Grupo México, the parent company of both Ferromex – the largest rail freight firm in Mexico – and Ferrosur, has announced investment of $466.7 million.

The money will be mainly spent on maintenance, improving operational efficiency, track construction and upgrading locomotive operating systems.

Ferromex/Ferrosur planning director Alberto Vergara said that the Altamira terminal at the terminus of the railroad between Altamira, Tamaulipas, and Monterrey, Nuevo León, will be upgraded to allow it to handle greater volumes of freight.

He also said that tracks that currently run through urban areas of Monterrey will be diverted to lesser-populated areas to increase security. Freight trains are regularly targeted by thieves.

For its part, Kansas City Southern de México has announced spending of $128 million in 2020. The investment will primarily be used to increase the speed at which the company’s trains can run and improve security, said executive operations director David Eaton.

“This year will be the year of security and speed,” he said. “Security is an obligation, not an option.”

The United States-based railway company is aiming to increase the speed of its trains by 26% in order to reduce transport times for freight such as fuel, chemicals and auto parts.

Ferrovalle, a firm that operates in central Mexico, expects to spend about $10 million this year.

“In the specific case of Ferrovalle, the investment will be 190.5 million pesos divided in three areas: infrastructure, technology and [new] trains,” said operations director Conrado Muciño.

Source: El Financiero (sp) 

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